3309 Drysdale Ct
Edwardsville, IL 62025
FNV earnings today after market close
There are no signals sent out on the BPSPX but you can use the
"Live Chart" URL to watch the chart yourself. The last signal
coincided with the gap out of the 30 min wedge and was a good place
to go long. I am hesitant to use it by itself but like to
find other triggers to verify, such as pattern breakouts. The
stop would go below the low that was made before the signal but I
use the 120 min DVTS to manage stops.
If you are going to use the SPY system, you have to be able to
buy the ETFs after the market closes at 4pm, extended hours are up
to 8pm EST. He usually has the trade signal out before 4:15pm
when options close. Sometimes he doesn't know if the signal
is made until the last tick at 4pm.
The Renko chart updates intra day.
Matt, theRenko chart has now given a buy signal. What do
you think of using the 5 min chart with the ribbons to look for the
first pinch of the uptrend to buy?
I agree Matt, this looks like a much safer system. I am
going to cut loose my UPRO spy system position today as I am
concerned it may just implode. Keeping SPY and SSO for now.
I expect the options will expire worthless but who knows?
I love how the trend-lines magically appear on my chart while I
am watching the live chart
Matt, I have also come to the conclusion that the DVT might be
my main focus after this crash. The SPY system has it's place
but the one thing I haven't figured out is where to pull the plug
on it and have a max loss amount. I am still in the SPY
trades but wish I had stood aside. What I love about the DVT
is always having a stop and avoiding this whole mess. Thanks
for all your hard work.
This seems important.
I just started trading options this year to be able to use your
system. Very happy with the results so far. Still a
mystery to me what strike price you decide to pick. I have
only been buying one option for each signal until I make sure I
know how to enter and exit the trades. With my job, I also
may not be able to execute the option trades after the market
closes but that's manageable. Thank you very much.
Matt, I would like to use the 2 hour chart with the dynamic stop
to trade SSO. What is the signal to go long, the ATR flipping
from magenta to cyan? Since we only see the chart on the
nightly newsletter, it would be done next day or is this one of the
systems you are still working out before making it available intra
day? If you have already explained this I apologize for not
paying close attention. Love the systems approach as it puts
my emotions in the back seat.
I see, thank you.
So using the 2 hour chart on SPY, place stop just under $312.81
for the etf. The daily would be down closer to $307.13.
That is if we want to keep our position.
Matt, you have mentioned MAIN as a dividend play. I was
wondering if you could comment on the chart? Been consolidating
lately. Thank you.
We appreciate it greatly!
Matt, in order to trade the upcoming system, I want to make sure
I have the accounts needed. I have a stock and futures
account at TradeStation. I need to open an options account as
well. I know many option traders prefer Think or Swim for
options but since the only option trading I will be doing is the
SPY system, would TradeStation be a good platform to use as well?
I am trying to keep it as simple as possible by having all my
trading accounts under TS. If I am trading the options, I
suppose using the etf''s can be reserved for my 401k since I cannot
trade options in my 401k and just use options for my regular
Matt, do you put a stop on the ES positions?
$Silver Quarterly: Stefano Bottaioli posted a similar chart on
Twitter, third bullish signal in the last 45 years. First leg up in
the 90's was 103.4%, second one which started in 2003 was
That amazing Matt, I have been trying to figure out good
position sizes for the SPY system. So if I understand you
correctly, the allocations are not the same into SPY, SSO, UPRO.
First trade, with the 100k example, would be $2K(SPY), second
$4K(SSO), and third $6K(UPRO)? Occasionally with a fourth
position you would add another $6K into UPRO. Am I
understanding you correctly?
Okay, I've got it, thank you. I guess my confusion is that
the McClellan oscillator is for the Nasdaq but you use it to trade
the $SPX? I suppose I don't know enough about the McClellan
oscillator. Something else to learn. Thanks again.
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